Fiscal Situation Remains Challenging: Canada’s Fiscal Policy Outlook to 2045

This annual forecast, we look at the impact that the COVID-19 pandemic, along with rising household and provincial transfers, have had on Canada’s fiscal outlook to 2045.

We expect the country’s fiscal finances will continue to feel the effects, but to what degree on the federal deficit? When do we expect the federal government will reach surplus? How will weaker labour force growth, the pressures of an aging population, and anticipated growth in young immigrant families affect the debt load? We share our outlook on Canada’s long-term fiscal challenges, with a focus on the impacts from a changing population.

Read the issue briefing to get our full analysis.